Dubai Real-Estate Market Becomes Hotter

It is billed as the land of eternal sunshine and shopping. And judging from the number of tourists flocking there to buy homes, Dubai's real-estate market is doing very nicely.

Emaar Properties, one of Dubai's biggest developers, estimates that about 60% of the 8,000 homes it sold last year were snapped up by buyers outside the Middle East, says spokesman David D'Souza. Emaar expects about half of the 13,000 homes it plans to sell this year to go to buyers outside the region. "Dubai is becoming a very popular place to...